Q: Is it illegal to buy out all of a certain product in a store and resell it at a higher value during an emergency.
Price gouging occurs when a seller increases the prices of goods, services or commodities to a level much higher than is considered reasonable or fair. Price gouging may be considered exploitative and unethical.
New Jersey's price gouging law bans excessive price increases during a declared state of emergency and for 30 days after it ends. A price increase is considered excessive if the new price is more than 10% higher than the price charged during the normal course of business prior to the emergency.
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